English to Chinese Law/Patents Law: Contract(s) contracts

Dear colleagues,

Can you help me with the latter part of this sentence? I am at sea about "incorporated herein by reference as if fully set forth herein".

Thanks

Yi

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The purpose of this 意向书(“LOI”) is to memorialize recent conversations and basic understandings of the Parties regarding a proposed business transaction between the Parties (the “Proposed Transaction”), the preliminary terms and conditions are incorporated herein by reference as if fully set forth herein (the “Term Sheet”).